The chemical looping dry reforming of methane can be used to convert greenhouse gases into products with much desirable specification. However, developing an oxygen carrier with coke-tolerance and high oxygen exchange rate usually requires the use of rare-earth metals or lanthanides. In this study, by utilizing deposited surface carbon as a reaction intermediate rather than suppressing it, complete methane conversion was possible even with the earth-abundant metal oxide particles. To establish an optimized H2/CO ratio for the hydrocarbon synthesis, the CH4 feedstock was partially replaced with CO2. By itself, Ni-Al oxide exhibited deactivation due to the agglomeration arising from methane decomposition over the redox cycle. Fe-Al oxide had stable performance over cycles, but a sudden performance decline was observed when the amount of CO2 co-feeding exceeded a certain point. Incorporating Ni into the Fe-Al oxide was found to overcome these problems. The formation of a spinel phase with Fe alleviated the agglomeration, and enhanced CH4 activation under high CO2 partial pressure. The introduction of Ni also improved carbon gasification kinetics with CO2.